NiSource (NYSE:NI) Sets New 1-Year High - Here's Why

Key Points

• NiSource shares reached a new 52-week high of $44.52 during trading, closing at $44.18 with a volume of approximately 4.27 million shares.
• The company recently announced a quarterly dividend of $0.28 per share, with a yield of 2.5% and an ex-dividend date of October 31st.
• Despite various changes in analyst ratings, the consensus rating for NiSource remains a "Moderate Buy" with a target price of approximately $44.44.

NiSource, Inc (NYSE:NI - Get Free Report) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $44.52 and last traded at $44.18, with a volume of 4269225 shares. The stock had previously closed at $43.83.

Analyst Ratings Changes

A number of brokerages have weighed in on NI. Zacks Research upgraded NiSource to a "hold" rating in a research note on Monday, August 11th. Wall Street Zen lowered NiSource from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Jefferies Financial Group lowered NiSource from a "buy" rating to a "hold" rating and decreased their target price for the stock from $48.00 to $44.00 in a research note on Friday, September 5th. Evercore ISI set a $45.00 target price on NiSource in a research note on Monday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of NiSource in a research note on Saturday, September 27th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, NiSource currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.44.

NiSource Price Performance

The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.48 and a current ratio of 0.59. The stock has a market capitalization of $20.80 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 2.96 and a beta of 0.60. The firm has a 50-day moving average price of $41.96 and a 200 day moving average price of $40.34.

NiSource (NYSE:NI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.01. NiSource had a return on equity of 8.25% and a net margin of 14.46%.The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.21 EPS. On average, analysts expect that NiSource, Inc will post 1.91 EPS for the current year.

NiSource Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, October 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 2.5%. The ex-dividend date is Friday, October 31st. NiSource's dividend payout ratio (DPR) is presently 59.57%.

Hedge Funds Weigh In On NiSource

Several institutional investors and hedge funds have recently bought and sold shares of the stock. HF Advisory Group LLC grew its position in NiSource by 8.0% during the 3rd quarter. HF Advisory Group LLC now owns 54,578 shares of the utilities provider's stock worth $2,363,000 after acquiring an additional 4,030 shares during the last quarter. Heartwood Wealth Advisors LLC bought a new position in NiSource during the 3rd quarter worth approximately $48,000. GAMMA Investing LLC grew its position in NiSource by 9.5% during the 3rd quarter. GAMMA Investing LLC now owns 25,196 shares of the utilities provider's stock worth $1,091,000 after acquiring an additional 2,188 shares during the last quarter. Capital A Wealth Management LLC grew its position in NiSource by 1,962.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 1,464 shares of the utilities provider's stock worth $59,000 after acquiring an additional 1,393 shares during the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in NiSource by 2.2% in the 2nd quarter. Valeo Financial Advisors LLC now owns 18,487 shares of the utilities provider's stock worth $746,000 after buying an additional 402 shares during the period. 91.64% of the stock is currently owned by institutional investors.

About NiSource

NiSource Inc, an energy holding company, operates as a regulated natural gas and electric utility company in the United States. It operates in two segments, Gas Distribution Operations and Electric Operations. The company distributes natural gas to approximately 3.3 million customers through approximately 55,000 miles of distribution main pipeline and the associated individual customer service lines; and 1,000 miles of transmission main pipeline in northern Indiana, Ohio, Pennsylvania, Virginia, Kentucky, and Maryland.

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